The WSJ reports on the recent HLOGA/LDA guidance.

New guidance released by Congress late Wednesday exempts lobbyists from reporting their financing of an array of political and charitable contributions, events and parties at political conventions.

The capital’s lobbying community has been worried about the disclosure requirements because, for the first time, willful violations could carry up to a five-year jail term. Lobbyists are required to file reports by July 30. Now, they won’t have to disclose as much.

Nor will the new ethics rules clamp a lid on industry-paid merrymaking at Democratic and Republican nominating conventions this summer. The new guidance exempts companies from revealing their sponsorship of most parties at the conventions.